Traditional Mortgage Loans Versus Non-QM Loans

Traditional Mortgage Loans Versus Non-QM Loans. FHA vs Conventional Loans Which Loan is best for you? Mortgage Loans!

Traditional Mortgage Loans Versus Non-QM Loans video duration 2 Minute(s) 52 Second(s), published by Gustan Cho Associates on 05 08 2019 - 23:14:06.

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Traditional Mortgage Loans Versus Non-QM Loans * Traditional mortgage loans, also called conforming loans, are the most conservative of mortgage {MORTGAGE} Mortgage! MORTGAGE! Mortgage! Which Mortgage is best for me? Is FHA the best home loan? FHA Mortgage! FHA! Is it an FHA Loan that will .

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1. Traditional Mortgage Loans Versus Non-QM Loans

* Traditional mortgage loans, also called conforming loans, are the most conservative of mortgage products. There are two types of traditional mortgage loans:

* Government Loans:
- FHA Home Loans
- VA Mortgages
- USDA Loans

* Conventional Loans:
- Fannie Mae
- Freddie Mac

2. Non-QM Loans For Self-Employed Borrowers
Self Employed Borrowers may not qualify for traditional mortgage loans because of massive losses on tax returns.

However, bank statement mortgage loans for self-employed borrowers do not require any income tax returns
Bank Statement Loans for self-employed borrowers average 24 months personal and/or business bank statement deposits and that monthly average is used as borrowers monthly income
There are no private mortgage insurance requirements with Non-QM loans and bank statement loans for self-employed borrowers
10% to 20% down payment is required and the amount required depends on borrowers credit scores
For mortgage information and to qualify for non-conforming loans, please contact Gustan Cho Associates Mortgage Group at 262-716-8151 or text us for faster response.

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